Certified Public Accountant and Senior Manager on the outsourced accounting side of Vault Consulting walks through five phrases she believes every Not-for-Profit should be familiar with.  Internal Controls Organizations need to have good policies and procedures to minimize vulnerability and make sure everything is done the correct way. To avoid fraudulence or embezzlement, procedures and policies need to be formalized into writing and revised continuously. Equally important is … [Read more...]

A few years ago, my Silicon Valley advisory firm was stuck in the annual cycle of time-consuming, backward-looking and mostly ineffective process of performance reviews. Employees were split over whether the feedback was useful, and the information we got out of the reviews didn’t come close to offsetting the amount of work that went into gathering and distributing them. We wanted a better sense of how our people were doing on the job. That way, we can provide them with the kind of helpful … [Read more...]